Weyerhaeuser Co. (WY) Coverage Initiated at Goldman Sachs Group Inc.
Investment analysts at Goldman Sachs Group Inc. assumed coverage on shares of Weyerhaeuser Co. (NYSE:WY) in a report issued on Thursday, The Fly reports. The brokerage set a “conviction-buy” rating on the real estate investment trust’s stock.
Other research analysts also recently issued reports about the stock. Citigroup Inc. upped their target price on shares of Weyerhaeuser from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, August 8th. Argus restated a “buy” rating on shares of Weyerhaeuser in a research report on Tuesday. DA Davidson upgraded shares of Weyerhaeuser from a “neutral” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Wednesday, June 29th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Weyerhaeuser from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Tuesday, July 19th. Finally, Dundee Securities downgraded shares of Weyerhaeuser from a “buy” rating to a “neutral” rating in a research report on Friday, August 12th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $35.00.
Shares of Weyerhaeuser (NYSE:WY) opened at 30.34 on Thursday. Weyerhaeuser has a 12-month low of $22.06 and a 12-month high of $33.17. The company’s 50 day moving average is $31.44 and its 200 day moving average is $30.94. The firm has a market capitalization of $22.72 billion, a PE ratio of 39.10 and a beta of 1.44.
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Weyerhaeuser (NYSE:WY) last released its earnings results on Friday, August 5th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by $0.01. Weyerhaeuser had a net margin of 7.24% and a return on equity of 8.35%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $7.54 billion. During the same quarter in the previous year, the company posted $0.26 earnings per share. The business’s revenue for the quarter was up 23.0% on a year-over-year basis. On average, analysts forecast that Weyerhaeuser will post $1.03 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, September 9th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $1.24 dividend on an annualized basis and a yield of 4.09%. Weyerhaeuser’s payout ratio is 158.98%.
In related news, VP Rhonda D. Hunter sold 3,318 shares of the stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $33.00, for a total transaction of $109,494.00. Following the completion of the sale, the vice president now directly owns 61,768 shares of the company’s stock, valued at approximately $2,038,344. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jeanne M. Hillman sold 59,686 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $32.58, for a total value of $1,944,569.88. Following the sale, the vice president now directly owns 70,651 shares of the company’s stock, valued at $2,301,809.58. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Perkins Coie Trust Co boosted its stake in Weyerhaeuser by 2.7% in the second quarter. Perkins Coie Trust Co now owns 3,781 shares of the real estate investment trust’s stock worth $113,000 after buying an additional 100 shares during the last quarter. Alexandria Capital LLC boosted its position in shares of Weyerhaeuser by 0.3% in the second quarter. Alexandria Capital LLC now owns 3,919 shares of the real estate investment trust’s stock valued at $117,000 after buying an additional 12 shares in the last quarter. AXA acquired a new position in shares of Weyerhaeuser during the first quarter valued at $139,000. Park Avenue Institutional Advisers LLC boosted its position in shares of Weyerhaeuser by 50.2% in the first quarter. Park Avenue Institutional Advisers LLC now owns 4,966 shares of the real estate investment trust’s stock valued at $154,000 after buying an additional 1,660 shares in the last quarter. Finally, Kelly Lawrence W & Associates Inc. CA acquired a new position in shares of Weyerhaeuser during the first quarter valued at $161,000. 75.73% of the stock is owned by institutional investors and hedge funds.
Weyerhaeuser Company Profile
Weyerhaeuser Company is a real estate investment trust (REIT). The Company is an owner of timberlands. It is principally engaged in growing and harvesting timber, as well as manufacturing, distributing and selling products made from trees. Its segments include Timberlands, Wood Products and Cellulose Fibers.
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